Morris Flancbaum bought an oceanfront mansion on Hillsboro Mile for $36.5 million, right next to property he already owns. With his 2021 purchase, he now controls 3.7 acres on one of South Florida's most exclusive coastal strips for $58.3 million in total.
Key Takeaways
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Morris Flancbaum, married to Conair billionaire heir Susan Rizzuto, paid $36.5 million for the mansion at 1083 Hillsboro Mile.
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Combined with his $21.8 million purchase next door in 2021, he now controls a 3.7-acre assemblage worth $58.3 million.
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The seller, Deborah Tarrant, originally paid $3 million for the property in 1998 and downsized to Boca Raton's Royal Palm Yacht and Country Club.
This isn't just a mansion purchase. It's an assemblage play on one of the rarest stretches of coast in South Florida. Hillsboro Beach sits between the ocean and the Intracoastal, with only a handful of properties offering both frontages. Flancbaum now controls two of them, side by side.
Jonathan Potsma with Coldwell Banker Realty represented both buyer and seller.
What makes Hillsboro Mile so valuable?
As Larry Mastropieri explained on the Discover South Florida Podcast, "This is a unique strip of real estate with few homes, and it seems these guys are buying all of them. It's very close to the Hillsboro Inlet, making for a quick boat ride to Miami or the Bahamas every summer."
That's the appeal: rare ocean-to-Intracoastal properties with fast inlet access. When available, buyers move quickly at this level.
The mansion itself sits on 2.5 acres. Built in 2007, it has 8 bedrooms, 13 bathrooms, and roughly 11,000 square feet. It features 200 feet of oceanfront and 200 feet of Intracoastal frontage with a dock.
Looking for oceanfront or Intracoastal property in Hillsboro Beach? This stretch moves fast at the high end. Talk to a real estate agent near Pompano Beach who tracks these deals. Reach out to The Mastropieri Group or call (954) 388-7738.
Who is Morris Flancbaum?
Flancbaum heads Colts Neck Associates, a New Jersey-based custom homebuilder with projects across Marlboro, Colts Neck, North Howell, Brick, Manalapan, Millstone, and Toms River. He made this purchase through Land Banc Trust, managed by attorney Russell Macnow.
More importantly, he's married to Susan Rizzuto, daughter of the late Leandro P. Rizzuto. Her father co-founded Conair, the hair products company, and was worth $3.5 billion when he died in 2017.
How is the Rizzuto family building a South Florida real estate footprint?
This isn't a one-time purchase. The Rizzuto family has been quietly consolidating prime South Florida real estate across multiple markets:
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Flancbaum and Rizzuto: Sold a Boca Raton mansion for $22 million in 2021. Now assembling the Hillsboro Mile compound.
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Leandro Rizzuto Jr.: Bought a home in Royal Palm Yacht and Country Club in Boca Raton for $18.5 million in 2024.
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Babe Rizzuto: Bought an oceanfront compound in Jupiter Inlet Colony for $35 million in 2022. Listed it for $55.6 million in 2023.
Susan Rizzuto is a trustee of the Leandro P. Rizzuto Foundation alongside her siblings. The family's South Florida holdings now span Palm Beach County and Broward County.
What about the seller?
Deborah Tarrant is the widow of Richard Tarrant, who sold his firm, IDX Systems, to GE Healthcare for $1.2 billion in 2005. The Tarrants originally bought the Hillsboro Mile property for $3 million in 1998. That's a return of over 1,100% in 27 years.
After the sale, Deborah Tarrant downsized to Royal Palm Yacht and Country Club in Boca Raton, paying $8.4 million in November.
What does this mean for Hillsboro Beach property values?
Hillsboro Beach is a small, quiet stretch of coast just north of Pompano Beach. But the sales activity right now is anything but quiet.
Three major transactions in a matter of months:
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Flancbaum's $36.5 million purchase (this deal).
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Car dealer Craig Zinn paid $27 million for a waterfront mansion earlier this month.
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Former Advanta CEO Dennis Alter sold his oceanfront estate for $27.1 million in August.
Assemblages like this often precede redevelopment or custom builds, which raise area values. Hillsboro Mile is now a top choice for buyers priced out of Palm Beach or Golden Beach.
Frequently Asked Questions About the Hillsboro Beach Sale
How much did Morris Flancbaum pay for the Hillsboro Beach mansion?
Flancbaum paid $36.5 million for the mansion at 1083 Hillsboro Mile. Combined with his $21.8 million purchase next door in 2021, he now controls a 3.7-acre assemblage worth $58.3 million.
Who is Morris Flancbaum married to?
Flancbaum is married to Susan Rizzuto, daughter of the late Leandro P. Rizzuto. Her father co-founded Conair and was worth $3.5 billion when he died in 2017.
What does the property at 1083 Hillsboro Mile include?
The mansion sits on 2.5 acres with 8 bedrooms, 13 bathrooms, and roughly 11,000 square feet. It features 200 feet of oceanfront and 200 feet of Intracoastal frontage with a dock. It was built in 2007.
Who sold the Hillsboro Beach property?
Deborah Tarrant, widow of healthcare tech mogul Richard Tarrant, sold the property. The Tarrants originally paid $3 million for it in 1998. Deborah downsized to Royal Palm Yacht and Country Club in Boca Raton for $8.4 million.
Why is Hillsboro Mile attracting ultra-wealthy buyers?
Hillsboro Mile offers rare ocean-to-Intracoastal homes with fast inlet access. Ultra-wealthy buyers value easy boat trips to Miami or the Bahamas. Limited supply and sales show this corridor is seen as undervalued next to Palm Beach.
Local help for buyers and sellers in Hillsboro Beach
Buying, selling, or investing in Hillsboro Beach, Pompano Beach, or Lighthouse Point? Understanding how assemblage plays and luxury sales shape this market matters. Reach out to The Mastropieri Group, Realtors®.
For help across Broward County, call (954) 388-7738.
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